Luby's posts 3Q loss on falling sales

HOUSTON Shares in Luby's Inc. fell nearly 10 percent Thursday, a day after the 120-unit cafeteria operator reported a third-quarter loss on declining customer traffic. Luby's reported Wednesday afternoon a net loss of $1.1 million, or 4 cents a share, for the quarter ended May 6. In the year-ago period, the company posted net income of $949,000, or 3 cents a share. Third-quarter revenue dropped 7.5 percent, to $69 million.Same-store sales in the third quarter fell 8.9 percent, which ...

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